New deal keeps Formula 1 Grand Prix in Austin through 2034

A new agreement between Formula 1, Travis County, and the Circuit of the Americas (COTA) will ensure the United States Grand Prix remains in Austin through 2034, extending the city’s role as one of the sport’s premier international destinations. The deal, approved October 16, continues a partnership that has fueled Austin’s tourism and economy for more than a decade.

The Formula 1 United States Grand Prix draws hundreds of thousands of fans each year, contributing more than $1 billion annually to Travis County’s economy during the October race weekend, according to county documents. Since its debut in 2012, the event has generated over $10 billion in regional economic impact and more than $38 million in state tax revenue.

Nearly 70% of attendees travel from outside Texas, reinforcing the event’s importance to Central Texas hospitality, retail, and transportation sectors.

By endorsing the new deal, Travis County has reaffirmed its support for COTA’s ability to apply for assistance through the Texas Major Events Reimbursement Program, which helps offset costs associated with large-scale tourism events. The county clarified that its approval does not include any property tax exemptions.

COTA remains a privately funded facility that pays taxes to Travis County, the city of Austin, Del Valle ISD, Austin Community College, and Central Health.

Formula 1 races across five continents each season, with stops in global cities such as Barcelona, Mexico City, and Melbourne. The Austin event remains one of the series’ most popular, cementing the region’s reputation as a world-class destination for motorsport and international tourism.

Travis County Judge Andy Brown said the renewed partnership reflects local leadership’s commitment to keeping the Grand Prix in Austin. “Our message today is simple,” Brown said. “Austin and Travis County intend to keep the Grand Prix right here, and we intend to do it with purpose, partnership, and Texas confidence.”